What is the process of a borrower paying all past due mortgage payments to reclaim their property before foreclosure called?

The process of a borrower paying all past due mortgage payments to reclaim their property before foreclosure is known as equitable redemption. This legal principle allows borrowers to retain ownership of their property by paying off any outstanding amounts owed on the mortgage, thereby stopping the foreclosure process. It serves as a safeguard for borrowers, providing them an opportunity to correct their financial situation before losing their home.

In many jurisdictions, equitable redemption can be exercised up until the moment the foreclosure sale takes place, allowing the borrower to regain control of their property by fulfilling their financial obligations. This process highlights the balance between lenders' rights to recover their funds and borrowers' rights to maintain their ownership.

The other options do not pertain to the concept of reclaiming property before foreclosure. An encumbrance relates to any claim or liability on a property, emblements refer to crops produced by a tenant on leased land, and eminent domain allows government entities to take private property for public use, typically with compensation, but does not involve the foreclosure context.